Fairfax, VA Economic Overview

Just 17 miles west of Washington, D.C., Fairfax is home to a little over 24,000 people, not counting George Mason University’s almost 34,000 students. GMU is located in unincorporated Fairfax County, of which Fairfax City is an enclave. Forbes has ranked Fairfax third on its list of “Top 25 Places to Live Well" due to the high local median salary of roughly $70,000/year, as well as Fairfax having the highest percentage of business owner residents in Northern Virginia, as well as nationwide.

Fairfax’s location at the intersection of three major highways, as well as its proximity to Washington, D.C., make it a prominent trade area, which appeals to businesses of all sizes. Furthermore, the city’s economic environment is beneficial to start-ups, as Fairfax has some of the lowest taxes in the state.

Proximity to George Mason University and its student population of over 30,000 makes for a highly accessible, skilled and educated labor pool.

Fairfax, VA Office Sales Volume

Data provided by Yardi Matrix, for properties larger than 50K SF, which sold at over $5M.

Fairfax, VA Office Transactions

Data provided by Yardi Matrix, for properties larger than 50K SF, which sold at over $5M.

Fairfax, VA Commercial Inventory Breakdown

Office Spaces

Total: 12,267,460 SF

Data provided by Yardi Matrix, properties over 50k SF, includes office with retail

By square footage range:

50k to 100k SF: 2,942,954 SF / 23.99% of total office

100k to 500k SF: 9,324,506 SF / 76.01% of total office

By class:

Class A: 6,904,600 SF / 56.28% of total office

Class B: 5,237,641 SF / 42.7% of total office

Class C: 125,219 SF / 1.02% of total office

Employment in Fairfax, VA

Whether you are a business owner or a prospective employee, Fairfax presents lots of opportunities. Almost 91% of the local workforce is employed in white-collar jobs, of which roughly 12.63% work in administration, 9.77% in sales, and 12.98% in management.

Neighboring George Mason University has an industry-specific scheme, to ensure its graduates are quickly and successfully integrated in the industry of their choice. GMU maintains an extensive and carefully matched online database of jobs and internship programs.

In addition, businesses in Fairfax have a strong online presence, offering valuable and efficient resources to not only target customers, but also employees and other local residents. Consequently, Google has included Fairfax in its yearly list of “Digital Capitals of America", with the special honor of "Commonwealth of Virginia’s e-City of the Year."

Online retail giant Amazon chose Fairfax for its East Coast corporate campus, attracted by the city’s business climate and rich talent pool, bringing an estimated 1,500 new jobs to the area. Fairfax’s top employer is international security services company GS4 Secure Solutions.

Education in Fairfax, VA

Half of Fairfax’s residents hold at least a Bachelor’s degree, graduate or other professional degree. Not surprisingly, Fairfax City public schools frequently score among the best in the nation. Notable private schools include Boyd School, Kellar School, and Oak Valley Center.

Formerly an extension of the University of Virginia, George Mason University has come into its own, praised for its excellent programs in business, economics, computer science, and law. Its prestigious faculty even includes twice-Nobel Prize honorees in Economics. George Mason University is now the largest university in the Commonwealth of Virginia, by enrollment.

Commuting Time in Fairfax, VA

Despite its relatively small population, Fairfax residents have to deal with long commutes–the average commute time here is 31.64 minutes, even as most Fairfax residents use public transport (subway, bus).

Despite the tumultuous political environment of the past year, and uncertainty regarding new policy changes that could affect the commercial real estate realm, investors were bullish on the Washington, D.C, office market in the first quarter of 2017. The market started the new year in full force...

CommercialCafé is your first and only stop when it comes to commercial real estate leasings in Fairfax, VA. Search through our extensive selection of commercial properties for lease with current space availability in the area ranging between 2922 square feet and 81511 square feet. Discover the right property from our 257 listings by using our advanced search function, which includes search by property type, space availability, management company, lease rates, and more.